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20110708
20110708
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gambling. back to you. jon: thank you. and thank you for joining us. patti ann: "america live"s right now. >> and we start with a fox news alert on the latest reaction to the crushing new jobs report. did you hear about it? president obama addressing anxious americans saying we've got a long way to go. welcome, everyone, to "america live." i'm gretchen carlson in for megyn kelly today. a new sign the economy still in big trouble. look at this. a slowdown in hire anything june pushing the unemployment rate now to 9.2%. only 18,000 net new jobs were added to the work force last month. at least 250,000 jobs are needed per month to drive the unemployment rate down significantly. and get this, since president obama took office we've seen the economy lose two and a half million jobs. president obama assuring americans there is a reason the numbers are so disappointing. listen to this. >> the sooner that the markets know that the debt limit ceiling will have been raised and that we have a serious plan to deal with our debt and deficit, the sooner that we give our businesses the certa
, waste of government money. well, there is a reason that jon mccain and barack obama both voted for the bailout. it is not because of wall street. it is because the main street in the biggest car dealership in the country that stopped financing cars is about to get to the point where you could go to sears and buy any kind of appliance on credit. the financial system had to be saved. we don't want to go there again. so most people did know this. they said we hate these bailouts. the democrats passed a financial reform bill, which gave the government power over some transactions it did not have to stop excessive leverage, that is to stop companies from making too many investments they didn't have the cash to cover. traditional banks would own $10 for every dollar in cash. when bear stearns failed in his 30 to one. lehman brothers about four to one. that's what's really in a financial reform bill. and by the way, if somehow they get around this and fail again, nomar bailouts. here's an orderly procedure for bankruptcy in the management and shareholders have to beat the loss. in oth
want to thank you for that. and jon, you're doing a good job. so i like that you're actually -- >> is this a setup? >> no. there's no comma, but coming here. i like that you're already attacking the issue of finding the regulations that are not very useful anymore. and don't serve the purpose. so good job. that's exactly what my bill that's in a different committee wants every agency, independent agency, to do. and it's not -- it's to provide the flexibility and i want to talk to you, sorry, commissioner northrop. >> ann is fine. >> because we can sit here and say good job on cribs. but it's amazing to me that we're sitting here talking about bicycles and a.t.v.'s and large cars and trucks that, 6, 7, 8-year-olds play with but yet we're regulating them. so you have to admit, mr. adler, there's some absurdity to the law. do you agree with the rules and regulations -- >> i think that congress basically got the law right. and what you're talking about is a mandate that congress impose, not that the commission imposed. but there are always some portions of the law that need to be
Search Results 0 to 2 of about 3

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